Ontario nuclear tech company expands to Alberta

Oakville, Ont.-based nuclear technology company Terrestrial Energy has expanded its operations into Alberta with the establishment of an engineering, research, and development office in Calgary.

The company is focused on delivering reliable, emission-free nuclear energy, and its $18-million investment will create 29 jobs over the next two years.

Terrestrial Energy, which was founded in 2013, is working to commission its zero-emissions Integral Molten Salt Reactor (IMSR) heat and power plants for industrial consumers.

“Alberta is a global energy hub with a track record of pursuing innovation in energy markets. Today its industries are investigating the potential of nuclear innovation to deliver transformative changes, supported by the provincial government’s continued focus on innovation and growth,” said Simon Irish, Terrestrial Energy’s CEO, in a statement.

“We look forward to growing our company in Alberta and delivering the first operating IMSR cogeneration plant, and by doing so demonstrate a solution to the greatest unsolved problem on the global pathway to net-zero: clean thermal energy supply for global industry.”

The company said it is engaged with organizations throughout North America, the United Kingdom, and other global jurisdictions to deploy its zero-carbon energy technology, which is also designed to generate high-efficiency, grid-based power. It said the company’s new office in Calgary will help accelerate its goals.

“Calgary is a global leader in cleantech innovation and companies like Terrestrial Energy will help power our pathway to a net-zero economy,” said Brad Parry, president and CEO of Calgary Economic Development, in a statement. “Our city is home to experts in all things energy and has the companies, capital and talent to achieve Canada’s energy transition goals.”

Rick Christiaanse, CEO of Invest Alberta, said Terrestrial Energy’s expansion into Alberta reflects the potential the province holds for energy transition and emission reduction, paving the way toward a net-zero future.

Terrestrial Energy said it was attracted to Alberta for its leadership in the energy sector and large industrial base. It was also drawn, it said, by the province’s low corporate tax rate, business-friendly environment and a large number of international companies in the region.

“Alberta’s economy has momentum, and Terrestrial Energy wants to be a part of that momentum. I am pleased to see Terrestrial Energy choose Alberta as their place to conduct business,” said Rajan Sawhney, Alberta Minister of Trade, Immigration and Multiculturalism, in a news release. “With low corporate tax rates, decreased red tape for businesses, and a ready workforce, Alberta has an economic atmosphere that cannot be matched.”